Cowabunga System Daily Update: Wednesday, 04/23/08

Main Trend

Current Trend= The trend remained up until 8am EST. From 4am – 8am EST, a new trend change candle formed and changed the trend from up to DOWN. After 8am EST, the trend remained down the rest of the day.

Today I only looked for long trades until 8am EST. After 8am EST, I only looked for short trades.

News events to watch for today :

4:30am EST– MPC Meeting Minutes

Today’s Surf

1:00am EST– There was a moving average crossover for a long trade. Stochastics were trending up and MACD was negative and gaining value, but RSI was less than 50. This cancelled out the signal and I did not enter.

4:30am EST– There was a valid signal here, but because it was a news candle, I did not enter.

Trade Result: +0 pips : R-Multiple: N/A

News events to watch for tomorrow :

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